- Certificate of the syndicate attesting to the condition of the immovable : Certificate of the syndicate attesting to the condition of the immovable
Definition : Certificate of the syndicate attesting to the condition of the immovable
Document prepared by a syndicate of co-owners and intended to collect various information on the state of the co-ownership. The form and content of the attestation shall be determined by regulation of the Government. This certificate is part of the legal documents to be provided for the sale of any fraction, under article 1068.1 of the Civil Code of Quebec. In that regard, it is provided that the person who sells a fraction must, in good time, give the promisor-purchaser such a certificate. To that end, the syndicate shall transmit, within 15 days, the document to the co-owner who so requests.
WARNING!? Section 1068.1 was introduced into the Civil Code of Quebec in December2019 by Bill 16. This new article obliges the seller of a fraction to give the promising buyer a certificate from the syndicate as to the state of the co-ownership. The syndicate has a period of 15 days to submit such a certificate to the co-owner who requests it. This obligation exists only from the day of the appointment of the new board of directors, after the loss of control of the promoter over the syndicate. This section has not entered into force.
As directors, we frequently have to complete and provide documents to notaries and real estate brokers. Questions: We want to know:
If we are entitled to charge a fee to take care of these files?
If so, what is the amount considered reasonable?
Should we proceed by adding to the by-law of the building?
If so, can we proceed by a majority vote or simply by decision of the Board of Directors?
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For the promising buyer, the offer to purchase is a way to reserve a property on conditions that he sets himself. When signing an offer to purchase, it may be that certain aspects surrounding the sale are beyond its control. This will happen, for example, if they have to sell their principal residence before buying, or if they need to get a mortgage before acquiring the new property. To this could be added another imponderable, that is to say that it may lack information to carry out a due diligence verification before the purchase. For this reason, offers to purchase generally include an obligation that is described as conditional, which is recorded as a suspensive condition.
When you buy a unit in divided co-ownership, you do not only acquire an apartment. You also join a group of co-owners responsible for the accounts to be paid to maintain and preserve the building. It is therefore important to be careful and to check, upstream, the financial statements and the good management of the syndicate. To get a clearer picture, the two basic questions to ask are: Have the directors put in place an appropriate management? And do they have a good control of its financial component? To find out, you should ask questions to your vendor and the syndicate. This will allow you to see whether the condominium follows rigorous accounting methods or not.
The declaration of co-ownership is intertwined with the purchase of an apartment held in divided co-ownership. A genuine "user's guide", this document defines the rules to be observed in the immovable, as well as its administrative and management guidelines. Before acquiring a condo, any careful buyer should, imperatively, read the declaration of co-ownership. He will thus be able to verify the extent of his obligations and duties and the limits to his ownership rights. He will be able to evaluate its terms and conditions and make a decision on buying or not.